Discover deeper insights. Insipire new thinking. Helping you build trust to protect what matters.
Audit and Assurance
Delivering value and confidence
It’s hard to know how to steer your business with the pace and turbulence of shifting regulations, technology and competition. We can help you deliver a clear path to value through improved transparency with stakeholders, confidently protecting and reporting on information for your business.
We bring new perspectives, harnessing specialized knowledge of your business, industry, and regulations to deliver deeper insights and advice across your organization.
Kevin Duarte
Partner, PwC Gibraltar
20066842 ext 212
Email
Why choose PwC?
Digitally upskilled with deep audit expertise
We believe the financial audit of the future must be people-led, with exceptional teams that bring together broad business understanding, deep industry and technical audit experience, clear judgement, critical thinking, and professional scepticism to produce audit opinions that provide trust over the things that matter.
We continuously train our auditors and support them with technology that drives innovation customised to your audit. They know the importance of building strong relationships through genuine interactions, clear communications, and balanced perspectives. Our teams care about their clients and are acutely aware of the difference our work makes to healthy capital markets
Building trust and evolving your audit
When it comes to trust, what matters to stakeholders is changing. Today, organisations are judged on more than financial performance. Reporting on areas such as data and privacy, sustainability, risk, diversity, and cybersecurity play an increasingly important role in building stakeholder trust.
For more than a century, we've helped clients build this trust in financial reporting. We're now bringing this expertise to a rigorous, integrated audit, providing assurance over what really matters to stakeholders. "What matters" may vary by company, country, and industry, but the power of relevant, reliable and transparent information to build trust is universal.
With our independence, subject matter expertise and insights into what drives credibility, we are the right people to help you build trust in what matters.
Greater audit efficiency and profession-leading quality = less time and stress for your team
Agile. Streamlined. Effective. Less burdensome. How do we do it? Powerful technology, custom automations, delivery centres, and deep audit experience help us to streamline testing and focus on complex, judgemental areas while resolving issues in a timely manner. Enabling continuously high quality and efficiency across all audit dimensions.
Enhancing financial audits with innovative technology tools
PwC is enhancing its financial statement audits by leveraging innovative technology through tools like Aura, Halo, and Connect. Aura provides a consistent and efficient approach to audit risk, offering end-to-end visibility of the audit process for better business understanding.
Halo improves audit quality and business understanding by using data for trend and ratio analysis, providing insights from audit data, and employing visualisations to identify patterns and high-risk transactions, while automating manual tasks to enhance efficiency.
Connect streamlines and automates communication between audit teams with a secure, web-based platform for information exchange and document management, enhancing efficiency through automation and the consolidation of notifications, reducing document management efforts, and facilitating quick issue resolution with real-time tracking.
Our offerings
- Financial Statement Audit
- Internal Audit
- Regulatory and Compliance Reporting
- Forensic Accounting
- Operational Resilience
- Agreed-upon Procedures Reporting
Financial Statement Audit
Innovative technology powering PwC's financial statement audit
The purpose of an audit is to form a view on whether the information presented in the financial report, taken as a whole, reflects the financial position of the organisation at a given date.
Internal Audit
A new forward-thinking, digital-first approach to internal audit
Regulatory and Compliance Reporting
Enhance Your Governance with PwC's Regulatory Compliance Services
Integrating regulatory compliance into governance is crucial for top management and corporate boards to ensure the organisation not only meets legal requirements but also aligns with business goals and risk strategies. This alignment adds significant value to the enterprise by embracing both the spirit and the letter of the law throughout the organisation.
We offer expert support and advice to navigate the complexities of regulatory risks in a rapidly changing environment. We focus on proactive strategies to help you identify, manage, and control these risks, turning regulation into a competitive advantage while minimising disruptions.
Our Services Include:
- Assisting with business authorisation by regulators.
- Conducting regulatory risk assessment and impact analysis.
- Providing independent assurance on financial statements.
- Developing and monitoring risk-based compliance frameworks.
- Evaluating business models under new regulations.
- Offering guidance on regulatory relations and standards.
- Supporting regulatory enforcement and remediation efforts.
Forensic Accounting
Safeguard Your Business Against Corporate Crime with PwC
Corporate crime is a significant threat to business stability, with undetected and unchecked activities leading to costly long-term challenges. Taking proactive measures to prevent and address illegal activities is crucial for maintaining a secure and resilient business environment.
At PwC, we bring extensive expertise in investigating alleged fraud and assessing potential fraud risks across a wide range of industries. Our experienced team is ready to support your business by implementing strategies aimed at tracing and recovering stolen or missing assets and identifying perpetrators to uncover actionable evidence.
Our comprehensive services not only help you address current issues but also provide tailored recommendations and implement effective remedial actions to prevent future incidents. Partner with PwC to ensure your business is protected and resilient against the risks of corporate crime.
Operational Resilience
Strengthen Your Operational Resilience with PwC
The Gibraltar Financial Services (Operational Resilience) Regulations 2023 establish essential requirements for operational resilience, targeting specific firms in Gibraltar, including insurers, banks, investment firms, electronic-money issuers, payment service providers, and (re)insurance intermediaries with substantial intermediary business revenue.
Key Compliance Requirements:
- Self-Assessments: Firms must document self-assessments to demonstrate regulatory compliance, with the Board and senior management responsible for approving the identification of important business services, impact tolerances, and these self-assessments, ensuring robust governance.
- Communication Strategies: Developing strategies for communication with both internal and external stakeholders is necessary as part of operational disruption response planning.
- Outsourcing Accountability: Even when outsourcing to third parties, firms retain full accountability for meeting regulatory obligations.
Implementation Timelines:
- By 13 July 2024: Identify important business services and establish impact tolerances.
- By 13 July 2026: Develop a prioritised plan to maintain operations within impact tolerances.
- After 13 July 2026: Implement comprehensive strategies, processes, and systems to manage risks and maintain operations during severe disruptions.
We offer extensive expertise in operational resilience and regulatory development, providing comprehensive support to ensure your firm meets these regulatory requirements effectively:
- Desk-based Health Check and Readiness Assessment
- Proactive Assurance and Maturity Assessments
- Designing and Building Frameworks
- Project Management
- Secondments
- Regulatory Support
- Internal Audit
PwC's Track Record and Credentials
Presented oral evidence to the UK Treasury Select Committee on IT failures in 2019.
Frequently selected for Section 166 reviews by the UK PRA.
Conducted independent root cause analyses and post-incident reviews for major operational incidents.
Organised Operational Resilience Exchanges to share insights among firms.
Supported the UK PRA in developing Impact Tolerances in 2016.
Agreed-upon Procedures Reporting
Enhance Your Financial Insights with Agree-Upon Procedures Reporting
Agreed-upon procedures reporting is a specialised audit engagement where a CPA conducts specific, pre-defined procedures on a company's financial or non-financial information. The procedures are determined in advance by both the accountant and the engaging party, focusing on particular areas of interest or concern.
Unlike a full audit, this type of reporting does not provide an opinion on the overall fairness of the financial statements. Instead, it reports factual findings from the agreed-upon procedures, offering a detailed examination of specific financial aspects.
This report is typically restricted for use only by the parties involved in the engagement, ensuring confidentiality and relevance. Agreed-upon procedures are particularly useful in situations such as due diligence investigations during business acquisitions, verifying compliance with loan covenants, or testing specific aspects of internal controls.
